Ahmedabad : MCX nickel is going on around Rs. 992.6 after making a low of Rs. 983.4 on Chinese Retail Sales which came positive today and moving heavenly since last 3-4 weeks.
And the news of German and French leaders to met in Berlin for discussing the debt crisis, also having some weathering impact on base metal.
Dollar Index hovering around 81 and is expected to move negatively (technically) if is breaks the level of 80.78, that may have positive impact on overall base metal's basket.
MCX nickel is having resistance near Rs. 1006 and support near Rs. 980 if it is closing above Rs. 1006 the next target is looking around Rs. 1020. And closing below Rs. 980 may have colossal impact on the metal and then may come up to Rs. 950.
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